Numeraire(NMR)

Overview

Numeraire (NMR) is an Ethereum-based ERC-20 token launched in 2017 by Numerai, a crowdsourced quantitative hedge fund. Numerai distributes encrypted, obfuscated financial data to data scientists worldwide, who submit machine-learning models predicting stock market movements, and NMR serves as the staking and reward currency of that tournament.

Participants stake NMR on their predictions to signal confidence in their models: strong performance earns NMR rewards, while poor performance results in the staked tokens being burned. This burn mechanism reduces the circulating supply over time, and NMR is also used within related products such as the Erasure protocol and Numerai Signals. The token's maximum supply was capped at 11 million after a protocol change.